What happens if Biden gets his $15 minimum wage passed?

[Legion]

Bingo.

You'll note that he failed to answer the question.

[Into the Night]

]I suspect you understand even less since you resort to ad hominems instead of rational arguments.

Inversion fallacy. You are describing yourself and projecting onto others again.

You are begging the question regarding "unearned" increase in income for any given specific group;

Fallacy fallacy. Pivot fallacy. No mention of 'unearned increase' was ever made.

WWII which was all about price controls

No. It was about war. It was about nothing but war. War is wasteful. It is destructive.

is what achieved full employmentand help raise the standard of living for that generation.

War does not increase any standard of living. War is wasteful and destructive.

Yes, I do know that because it is already documented

Void authority fallacy.

and was happening

Assumption. Circular argument fallacy.

and is a reason Congress had to fund Government in the past.

Congress IS government. It the job of the House to establish budgets for the rest of government. Congress does not fund government. It IS government.

Governments do not produce anything. They do not have a profit motive. Their success metric is based on justifying their existence. Governments can raise money in three ways: They can tax it, they can borrow it, or they can print it.
Taxing too much causes revolts (possibly violent). This is called a tax crash.
Borrowing too much means it can never pay it back. It is just the same as anyone borrowing too much. This is called a debt crash.
Printing too much means the money is worth less since there is no corresponding increase in wealth. This is called a cash crash.

That wasn't true for the minimum wage for around a decade.

Price controls do not work.

And, here is another perspective:
https://www.marketwatch.com/story/de...ce-2019-01-10#

I say that because many people claim even fifteen dollars an hour won't cover expenses in high cost of living areas.

Irrelevant. If you want to earn more, make yourself worth more to someone. Price controls do not work.

Not my fantasy world; I know how to read as well as you if not better:

It is your fantasy world, along with the fantasy world of socialists like you.

Had the federal minimum wage risen alongside productivity, it would be more than 18 dollars per hour today, this according to the report.
https://www.novoco.com/sites/default/files/052615.pdf

Another piece of propaganda. Price controls do not work.

[PoliTalker]

Hello Micawber,

$15 is a good number for min wage. Let's do it. Especially since we know they won't give another one for 30 more years.

Raise it and tie it to inflation.

Let minimum wage rise each year by the same COLA that SS does. No brainer.

[Into the Night]

It is an example of market based arbitrage after Government "moves the goalposts"; the private sector is a price taker not a price maker regarding statutory minimum wages.

Goalpost fallacy. Inflation is not economic growth.

[Into the Night]

While that is still true, it must be less true now with the higher minimum wage than before especially when minimum wage workers share household expenses. And, California still has the largest economy in the US.

The SOTC economy is failing. People are leaving in droves because of it. Argument from randU fallacy. You are making up numbers again.

[Into the Night]

You still haven't presented any valid rebuttals; simply claiming you are Right merely because you are on the right wing is not very convincing.

Argument of the stone fallacies. He is asking you questions. Answer the questions put to you.

[Into the Night]

So you say. What you claim only happens in the short run not the long run since higher paid labor creates more in demand and generates more in federal income tax revenue in every long run equilibrium.

Being thrown out of work is NOT a higher paid labor.

[PoliTalker]

Hello Nordberg,

The truth is the money for 15 exists in the economy right now. It is just confiscated by the owners. Papa Johns owner used the same arguments you rightys are using for not raising wages to 15. He screamed about how he could not afford it and would have to shut down. here is his home. https://people.com/home/the-house-th...ion-on-tiktok/
The head of Mcdonald's makes over 18 million a year.

Too bad he's not happy and has to seek attention with his 'look at me' video. If he was really happy in his own space he wouldn't have to seek adoration. Of course, I guess there's no point in having all that ornate stuff if you can't show it off. So that's the point of it all. It's not meant for personal enjoyment. It is meant to say nyah nyah. IGMTHWY.

Just proves the point that once an individual has amassed enough wealth to have all the basics covered, plus a little extra discretionary spending money, that individual is as happy as wealth is going to make him. Any more wealth above that point will not produce any more happiness. It may actually introduce more stress worrying about it all.

[Into the Night]

Simple math. Higher paid labor creates more in demand and generates more in federal income tax revenue.

Math error: Disjointed distribution of terms. Logic error: False equivalence fallacy. Four term fallacy.

I am saying it must be more true for minimum wage workers making a higher minimum wage than before. Simple, self-evident truths.

Circular argument fallacy. Four term fallacy.

Yes, I can when labor is generating more income to help fuel the multiplier.

Pivot fallacy. Four term fallacy. Buzzword fallacy.

No argument presented. Denial of mathematics. Denial of logic.

[danielpalos]

That is not economic development.

That form of wage push does help increase the multiplier effect, along with creating more demand and generating more tax revenue.

[danielpalos]

Price controls do not work. There is no 'should be'.

How did you reach your conclusion? It worked during WWII. Full employment was achieved by that command economy.

[danielpalos]

Economies don't have an 'efficiency'. Price controls do not work. Socialism does not work. Government interference with markets is fascism.

That is not an argument but you begging the question. I could claim Capitalism doesn't work, Capitalism "died in 1929", and socialism has been bailing out Capitalism ever since.

[Concart]

That is not an argument but you begging the question. I could claim Capitalism doesn't work, Capitalism "died in 1929", and socialism has been bailing out Capitalism ever since.

Yes and no, but mostly yes. There is no such thing as pure capitalism or pure socialism. Entrepreneurial drive has led to great advances in science and medicine. But ultimately capitalism has a single goal: profit. Government is necessary to ensure that the goal of corporate profits is not realized at the expense of the common good. Government has by and large failed at doing that, which is why we have an enormous wage/wealth gap.

[danielpalos]

Goalpost fallacy. Inflation is not economic growth.

You need valid arguments. Why do you believe inflation is not a form of growth? More people making more money, creating more demand and generating more tax revenue can be measured as the multiplier effect.

[Concart]

You need valid arguments. Why do you believe inflation is not a form of growth? More people making more money, creating more demand and generating more tax revenue can be measured as the multiplier effect.

I'm sure you're aware of this, but you are debating economics with a yapping chihuahua. This guy has no clue.